GameStop

Roaring Kitty

Kitty

The ROAR meme coin’s value increased by more than 300% this morning, driven by social media influencer Roaring Kitty’s announcement of GameStop stock holdings. 
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 24-hour price of ROAR from CoinGecko
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The ROAR <a href="https://crypto.news/tag/memecoin/" data-type="link" data-id="https://crypto.news/tag/memecoin/" rel="">meme coin</a>, associated with social media influencer Roaring Kitty, saw a surprising increase in value this morning, soaring by 307.4% to reach $0.001643, according to <a href="https://www.coingecko.com/en/coins/roaring-kitty" data-type="link" data-id="https://www.coingecko.com/en/coins/roaring-kitty" target="_blank" rel="">CoinGecko</a>. 
Roaring Kitty and the bullish 5 million shares 
The surge comes from influential developments involving Roaring Kitty, also known as Keith Gill, who posted a <a href="https://www.reddit.com/r/Superstonk/comments/1d6r5vp/gme_yolo_update_june_2_2024/?utm_source=share&amp;utm_medium=mweb3x&amp;utm_name=mweb3xcss&amp;utm_term=1&amp;utm_content=share_button" data-type="link" data-id="https://www.reddit.com/r/Superstonk/comments/1d6r5vp/gme_yolo_update_june_2_2024/?utm_source=share&amp;utm_medium=mweb3x&amp;utm_name=mweb3xcss&amp;utm_term=1&amp;utm_content=share_button" target="_blank" rel="">screenshot</a> on Reddit suggesting a massive holding of GameStop stock and options. Based on Friday’s closing price, Gill’s post revealed his ownership of 5 million GameStop shares, valued at approximately $116 million. 
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 Screenshot of Roaring Kitty’s position in Game Stop
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 You might also like: <a href="https://crypto.news/michael-saylor-microstrategy-tax-evasion-settlement/" rel=""> Michael Saylor, MicroStrategy to pay $40m in tax evasion settlement </a> 
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 NOW: GameStop soars after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a $116 million bet <a href="https://t.co/0mnyJF4lIf" target="_blank" rel="">https://t.co/0mnyJF4lIf</a> <a href="https://t.co/rpRdA2AIWL" target="_blank" rel="">pic.twitter.com/rpRdA2AIWL</a>— Bloomberg Markets (@markets) <a href="https://twitter.com/markets/status/1797630189175726475?ref_src=twsrc%5Etfw" target="_blank" rel="">June 3, 2024</a>
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Gill’s disclosure had a quick and deep impact, driving GameStop’s stock up by over 100% at its peak on Monday before settling to an 88% increase in pre-market trading. At its height, GameStop shares reached $43.57, reflecting a renewed enthusiasm among meme stock investors. 
The rally in <a href="https://crypto.news/tag/gamestop/" data-type="link" data-id="https://crypto.news/tag/gamestop/" rel="">GameStop</a> shares and Gill’s strategic social media activity, notably including a cryptic post featuring the Uno reverse card, reignited interest in meme stocks. These stocks, typically defined by influential price volatility driven by online popularity rather than company performance, have become a focal point for individual investors. 
GameStop itself has been volatile, selling 45 million shares for $933.4 million last month while warning investors of potential significant losses. Despite the recent surge, the company faces projected quarterly sales declines and continued net losses. 
$GME currently sits at $30.47 per share, with over $118 million daily volume. 
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 Past 2 trading days of $GME from TradingView
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 Read more: <a href="https://crypto.news/gamestop-inspired-meme-coin-surges-300-as-roaring-kitty-resurfaces-on-x/" rel=""> GameStop-inspired meme coin surges 300% as Roaring Kitty resurfaces on X </a>

ROAR spikes 300% following Roaring Kitty’s GameStop announcement

crypto.news

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